The Internet of Things (IoT)

MIoTA coin is known as the cryptocurrency for the internet of things. Well, while a lot of people are investing in the world’s top 12th cryptocurrency, only a handful actually know about the concept of IoT or the Internet of Things. From the past couple of years, IOT is revolutionizing the way we live.

From the most basic households like an air conditioner to a complex smart car almost everything is associated with the IoT these days. In simple words, IoT is an enormous network which consists of many various devices. With the help of sophisticated and modern sensors, these devices share their data with the IoT.

Even the traffic signal down the street is connected to the IoT. IoT is a platform which allows the devices to not only share their data but also communicated with the gadgets connected to the IoT. All of this is possible because a common language is used for the communication process.

IoT processes the data received and then after organizing it or extracting the important part of it, the data is sent to a device for a specific use. For example, an AC’s sensor transmits data to the IoT. And then after the process, IoT sends it to an office where the customer care workers check whether the AC requires maintenance or not.

IOTA (MIOTA) Price Today – MIOTA / USD

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Bosh partners with IOTA for IoT data gathering

The Engineering giant firm Bosh is partnering with the cryptocurrency which has a market cap of roughly $1.3 billion. It is linking its new data collection IoT device with the decentralized cryptocurrency MIoTA or IoTA. With a revenue of whopping, $78.1 Billion Bosh is one of the largest companies. This is a positive sign for MIoTA.

If the integration is successful, then we can expect a sharp rise in the price of IoTA. Simply because such a big firm has associated itself with this cryptocurrency. With that being said, it is essential to keep in mind that because of the interdependent nature of the crypto world, a lot depends on Bitcoin.

If the price of Bitcoin stays stagnant, then there’s a very little chance of an increase in IoTA’s price. That is precisely why investing in IoTA solely because of this partnership isn’t the best thing to do. IoTA has given an excellent return on investment (ROI) at its early stages and while Bitcoin was at its peak.

The new device being launched is the Bosch XDK (Cross Domain Development Kit). The multi-billion dollar company says “it is a programmable sensor device and Internet of Things prototyping platform.” The sophisticated device uses different sensors and other technologically advanced algorithms in order to allow programmers to collect live data and trade it in the IoTA’s marketplace.

It is important to note that until now there hasn’t been any open source program or code available to the developer which can integrate the Bosch SDK and IoTA’s “tangle.” Tangle is the technology behind IoTA which is used as a replacement for Blockchain.